Monetary policy: "We must be sure that inflation is moving towards our target" - Warsh open to interest rate move
At the annual meeting in Jackson Hole, the top US central banker emphasizes that the US economy continues to develop steadily. Only inflation worries him. He leaves one topic out.
US Federal Reserve chief Kevin Warsh stated at a central bank meeting in Jackson Hole that the Fed must review its monetary policy. He emphasized the need for inflation to move towards its target, indicating further work is required if this does not occur. Warsh's speech did not provide clear guidance on the monetary policy course.
Following his speech, short-term US bond yields rose while long-term bond yields fell slightly, suggesting investors now see a rate hike in September as more likely. The probability of a 25 basis point rate increase in September rose from 36% to 56% on the CME futures market.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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